Uzbekistan and Saudi Arabia have strengthened their strategic economic partnership with new projects in the capital’s development plan, including the construction of the ‘Riyadh Quarter’ in New Tashkent and the launch of a new international airport.
The agreements, signed during high-level meetings, bring the total portfolio of joint initiatives to $30 billion.
Investment Portfolio
At the latest session of the Uzbekistan–Saudi Arabia Intergovernmental Commission and Business Council, the two sides signed 10 new agreements worth $4 billion across energy, healthcare, industry, and transport. Minister of Investments, Industry and Trade Laziz Kudratov said these were “not sovereign loans but direct foreign investments — a sign of Saudi Arabia’s trust in Uzbekistan”.
Saudi Arabia’s ACWA Power continues to play a central role in Uzbekistan’s renewable energy transition, operating solar and wind plants in Tashkent, Bukhara, and Karakalpakstan, as well as managing the Shirin Energy College in Syrdarya. A major new project with Vision Invest (Saudi Arabia) and Air Products (United States) will focus on producing sustainable aviation fuel (SAF) for Uzbekistan’s expanding aviation sector.
New Tashkent Projects
One of the flagship Saudi-backed projects will be the construction of the ‘Riyadh Quarter’ in New Tashkent, to be developed jointly by Al Majdiah and First Avenue companies from Saudi Arabia. The initiative is expected to become a residential and commercial hub symbolising bilateral friendship. President Shavkat Mirziyoyev described it as “a bridge uniting the two nations”.
Aviation Expansion
As part of Uzbekistan’s broader infrastructure modernisation, President Mirziyoyev has also laid the foundation for a new international airport in New Tashkent, to be built in partnership with Vision Invest (Saudi Arabia, 45%), Sojitz Corporation (Japan, 30%), Incheon Airport Corporation (South Korea, 15%), and Uzbekistan Airports (10%). The $2.6 billion project, designed by Dutch firm NACO Consulting, will cover 1,310 hectares and serve up to 20 million passengers annually.
The country also plans to increase its total aircraft fleet from 105 to 180 over the next five years. Recent contracts include Uzbekistan Airways’ order for 14 Boeing 787-9 Dreamliners and an option for 8 more, as well as agreements to acquire 14 Airbus aircraft and lease 5 additional planes.
These steps would help transform Uzbekistan into a “regional aviation hub connecting East and West”. The expanded fleet and airport complex could generate $700 million in annual revenue.
World leaders gather in New York for the 81st UN General Assembly, with conflicts in the Middle East and Ukraine, global security and diplomacy set...
Ukrainian President Volodymyr Zelenskyy said Kyiv was ready to halt strikes on Russian energy facilities if Moscow stops targeting Ukraine’s ...
Iran could reopen the Strait of Hormuz within seven days if the United States eases military pressure and lifts its blockade on Iranian ports, a se...
Ukrainian President Volodymyr Zelenskyy said Kyiv was ready to halt strikes on Russian energy facilities if Moscow stops targeting Ukraine’s energy sector, critical infrastructure, and food exports, as he prepared to meet U.S. President Donald Trump in New York.
Iran's military has threatened to launch sustained attacks on U.S. bases and interests across the Middle East if Washington resumes military action against Tehran.
Iran could reopen the Strait of Hormuz within seven days if the United States eases military pressure and lifts its blockade on Iranian ports, a senior Iranian official told Reuters on Tuesday.
Overnight Russian strikes on the city of Sumy, northeast Ukraine, have killed one woman and injured a man, the country's State Emergency Service has said.
Russian parliamentary elections have delivered a comfortable win to the ruling United Russia party, which is closely aligned to President Vladimir Putin. With more than 95 per cent of ballots counted, United Russia has taken 57.83 per cent of the vote, up from the 49.8 per cent it won in 2021.
World leaders gather in New York for the 81st UN General Assembly, with conflicts in the Middle East and Ukraine, global security and diplomacy set to dominate the week long high-level debate.
A former Rwandan official has appeared in a London court, becoming the first person in the UK to face charges linked to the 1994 genocide against the Tutsi in Rwanda.
Ukrainian President Volodymyr Zelenskyy said Kyiv was ready to halt strikes on Russian energy facilities if Moscow stops targeting Ukraine’s energy sector, critical infrastructure, and food exports, as he prepared to meet U.S. President Donald Trump in New York.
Turkish President Recep Tayyip Erdoğan has called for the abolition of veto powers and permanent membership on the United Nations Security Council, proposing a system in which all members would instead be elected for fixed terms.
Survivors of a Nigerian detention centre where 37 people died say guards sprayed an unidentified substance into an overcrowded cell and kept the doors locked while detainees struggled to breathe and cried for help.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment